Seddeeq, Rasha

Abstract [en]

On the 1st of November 2010 more than 70% of small companies on the stock market, in Sweden, have chosen to abolish the audit system; however despite this elimination some companies advocated the importance of using the audit system. The aim of the paper is to highlight and explain the underlying reasons to that the owners of small limited company chooses to retain the audit. A qualitative method was adopted which uses semi-structured interviews, a total of 13 interviews were conducted, two of them were face to face and eleven were phone interviews. The empirical results showed that there are a number of reasons behind the small companies choice of audit, serving its own cause, seriousness of the audit system, information asymmetry, the Swedish Tax Agency, the credibility of the various stakeholders, the need of advice, lack of time, lack of knowledge in economics, educational level concerning finance and sales, to name a few.

Place, publisher, year, edition, pages

2016. , 42 p.

Keyword [en]

Voluntary audit, the abolition of the audit requirement, small companies, role of the auditor, stakeholders and auditors